U.S. retail sales unexpectedly declined in January and December receipts were revised lower, indicating consumer demand in the first quarter may cool, according to Commerce Department figures released Wednesday.
Overall sales fell 0.3% (est. 0.2% gain), the most since February 2017, after little change in prior month (prev. 0.4% increase).
Purchases at automobile dealers dropped 1.3%, the most since August.
So-called retail-control group sales, which are used to calculate GDP and exclude food services, auto dealers, building materials stores and gasoline stations, unchanged following a revised 0.2% decrease in December (prev. 0.3% gain).
7 of 13 major retail categories showed declines in receipts.
Source : Bloomberg